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Samsung plans to invest additional US$1 bil in Bac Ninh

Jun 18th at 14:28
18-06-2014 14:28:07+07:00

Samsung plans to invest additional US$1 bil in Bac Ninh

Samsung group is urgently finalising documents to invest an additional US$1 billion in the Samsung Bac Ninh Hi-Tech Complex, according to Hai Quan (Customs) newspaper.

The newspaper said that Samsung group’s leaders have assigned Samsung Display Co, Ltd to study the implementation of a hi-tech project on an area spanning 46.28 hectares in the Samsung Hi-Tech Complex.

The project has total projected investment capital of US$1 billion by 2020 and the group has proposed a series of new initiatives to finance the project.

A request for approval has been submitted to Vietnamese relevant agencies and will be granted with investment license if Prime Minister approves, said a leader of the Bac Ninh Industrial Park's management board.

Earlier on June 9-10, the management board held a working session with representatives from Samsung Display Co, Ltd and Samsung Electronics Vietnam Co, Ltd to discuss the US$1 billion project.

vietnamnet

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